EPAM Systems, Inc. (NYSE:EPAM) Stock Position Raised by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. raised its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 3.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 308,498 shares of the information technology services provider’s stock after buying an additional 8,959 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in EPAM Systems were worth $61,400,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of EPAM. Pacer Advisors Inc. lifted its holdings in shares of EPAM Systems by 14,325.2% in the second quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock valued at $123,601,000 after purchasing an additional 652,515 shares in the last quarter. TD Asset Management Inc raised its position in EPAM Systems by 80.0% in the second quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock valued at $112,017,000 after purchasing an additional 264,570 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in EPAM Systems by 45.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider’s stock worth $102,570,000 after purchasing an additional 160,989 shares during the period. Manning & Napier Advisors LLC acquired a new stake in EPAM Systems in the second quarter valued at approximately $84,850,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of EPAM Systems by 643.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock valued at $83,100,000 after purchasing an additional 361,363 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

Insider Buying and Selling

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $237.00, for a total transaction of $237,000.00. Following the completion of the sale, the chief financial officer now owns 24,836 shares in the company, valued at $5,886,132. This trade represents a 3.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

EPAM has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft started coverage on EPAM Systems in a report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price objective for the company. Piper Sandler raised their price target on EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Scotiabank upgraded EPAM Systems from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $245.00 to $275.00 in a report on Monday, November 11th. Itau BBA Securities upgraded EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research note on Friday, November 8th. Finally, StockNews.com raised EPAM Systems from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, EPAM Systems currently has an average rating of “Moderate Buy” and an average target price of $264.20.

EPAM Systems Stock Performance

NYSE EPAM opened at $243.79 on Tuesday. The stock has a fifty day simple moving average of $212.10 and a 200-day simple moving average of $200.05. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The stock has a market cap of $13.83 billion, a PE ratio of 31.66, a P/E/G ratio of 3.73 and a beta of 1.49. EPAM Systems, Inc. has a twelve month low of $169.43 and a twelve month high of $317.50.

EPAM Systems declared that its board has authorized a stock repurchase program on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

EPAM Systems Company Profile

EPAM Systems, Inc provides digital platform engineering and software development services worldwide. The company offers engineering services, including requirements analysis and platform selection, customization, cross-platform migration, implementation, and integration; infrastructure management services, such as software development, testing, performance tuning, deployment, maintenance, and support services.